🔥 Kannapolis, NC. 3 bed / 1 bath. 1,900 sq ft — largest home in the comp set. Renovated neighbor sold at $320K. As-is neighbors at $170K–$245K. Priced at $159K. That’s $84/sq ft with $161K of upside if you renovate. 🤝
Asking: $159,000
Renovated ARV: ~$320,000
Flip Spread: ~$161,000
| Type | Single Family Residence |
| Bedrooms / Baths | 3 bed / 1 bath |
| Living Area | 1,900 sq ft |
| Year Built | 1957 |
| Lot Size | 0.17 acres |
| Utilities | City Water & City Sewer + Duke Energy |
| Occupancy at Closing | ⚠️ Seller requires 15 days post-closing to vacate. 50% of Seller’s proceeds held in escrow until Buyer confirms vacancy. |
| Closing Date | June 22, 2026 |
| Closing Attorney | Atlas Orange |
Condition Notes
⚠️ Roof is 20+ years old and will likely need replacement — factor this into your rehab budget.
⚠️ HVAC (heating and cooling) is also 20+ years old but reported as still operational — budget for near-term replacement. No additional condition details were provided.
Comparable Sales
| Address | Sq Ft | Sale Price | Price/Sq Ft | Notes |
|---|---|---|---|---|
| 1305 Price Ave | 1,528 | $320,000 | $209/sq ft | Sold Jun 2025 — Renovated, updated kitchen, new baths |
| 803 N Walnut St | 1,370 | $245,000 | $179/sq ft | Sold May 2025 — As-is |
| 623 N Main St | 1,469 | $245,000 | $167/sq ft | Sold May 2025 — As-is per listing; Zillow shows updates (granite, hardwoods, new HVAC 2025) — treat as renovated |
| 624 N Juniper Ave | 1,261 | $170,000 | $135/sq ft | Sold Jan 2026 — As-is, same street |
| As-Is Comp Average | ~1,316 | ~$207,500 | ~$157/sq ft | 803 N Walnut + 624 N Juniper only |
| Renovated ARV | 1,528 | $320,000 | $209/sq ft | 1305 Price Ave |
| 🏷️ Our Price | 1,900 | $159,000 | $84/sq ft | |
| 💸 Your Flip Spread | ~$161,000 | vs. Renovated ARV | ||
| 💸 Your As-Is Spread | ~$48,500 | vs. As-Is Average |
Note: 623 N Main St was listed as-is but Zillow shows significant updates — treated as a renovated comp and excluded from the as-is average. Pure as-is comps are 803 N Walnut St and 624 N Juniper Ave only.
💡 Why the numbers work
At 1,900 sq ft, your subject is the largest home in this entire comp set — bigger than the renovated $320K sale, bigger than every as-is comp, and nearly 640 sq ft larger than the same-street as-is sale at $170K. You’re buying at $84/sq ft while the renovated comp sold at $209/sq ft. Renovate to market and you’re looking at $161K of gross spread. Even if you take it as-is, the pure as-is average of ~$207,500 still puts $48K+ in your pocket before you touch a thing.
⚠️ DISCLAIMER — Please Read Before Submitting an Offer
📋 Assignment of Contract
This is an assignment of contract. A legally binding purchase agreement with a memorandum has been executed with the Seller, granting this company exclusive rights to purchase the property. We are not brokers or realtors and do not represent the owner.
🚫 Do not contact the Seller directly. Any attempt to contact, interfere with, or circumvent our active contract will result in legal action. This property is not to be re-marketed without our explicit written consent and execution of a joint venture agreement.
🔍 Due Diligence
Buyers are responsible for their own due diligence. We are not licensed agents. Please consult appropriate legal or professional counsel before submitting an offer.
💰 Offer & Deposit Terms
- $5,000 non-refundable deposit due within 24 hours of signing
- Closing no longer than 30 calendar days
- Buyer pays all closing costs — not included in asking price
- Taxes prorated and split between parties
- Closing through our closing attorney
🏚️ As-Is Terms
Property is offered as-is, where-is, no warranties. By submitting an offer you accept these terms.
- ❌ No repairs or improvements prior to closing
- ❌ No clean-out or clean-up of any kind
- ❌ Property will not be broom clean at closing
🤝 Realtors & Wholesalers
The wholesale price does not include your commission or fee. You may either negotiate your fee directly with your client or adjust the wholesale price upward to account for it. If you’d like to be compensated by us, include those terms in your offer or reach out before submitting.